30% 35% 40% 45% 50% 55% 60% 65% Median Forward 10yr TrendEPS Growth: 1960-1984: 1.4% 1985-2004: 4.5% -2% 0% 2% 4% 6% 8% 10% 12% 3yr Avg. Div Payout (lhs) Subsequent 10yr Real EPS Trend Growth (rhs) Note: EPS trend growth is the regressed exponential growth rate that best explains a